Jones

This is an appeal from a judgment for the recovery of usurious interest, and from a decree rescinding a promissory note and an order for the payment of an additional bonus exacted for the making of the same loan.

The plaintiffs owned two lots in Cahuenga Place Addition in the city of Los Angeles, which were subject to an encumbrance of $10,000. They were about to be sold under the terms of a trust deed for default of the payment of interest. The plaintiffs planned to borrow sufficient money to pay the mortgage and construct an apartment house on these lots. Roy Jones and Mr. Ward, in company with a broker by the name of Sugarman, interviewed the defendant Harris N. Dickerman for this purpose on March 17, 1927. Mr. Jones testified: “Mr. Ward and I went up to Mr. Dickerman’s office to negotiate a loan for our property that was under foreclosure and about to be sold a few days thereafter, and we talked to Mr. Dickerman about the deal, and he said he would make the deal. ... We told him we would need possibly $11,000; that the trust deed that was under foreclosure was $10,000, and trustee’s fee together with delinquent interest (which) would approximate $1,000. . . . He wanted to…